2011

Documentation

Statement of Financial Position

Assets

Current Assets
Cash: 
32,893
Accounts Receivable: 
1,297
Prepaid expenses and deposits: 
2,592
Total current assets: 
36,782
Capital
Fixed Assets at Cost: 
829,882
Accumulated Amortisation: 
-170,181
Total capital: 
659,701
Total assets: 
696,483

Liabilities

Current Liabilities
Accounts payable and accrued charges: 
4,328
Short term loans: 
18,000
Loans from predecessor trustees: 
70
Current portion of long-term debt: 
15,299
Total current liabilities: 
37,697
Long-term liabilities
Long Term Debt: 
391,173
Deferred Contributions Related to Capital Assets: 
151,324
Total liabilities: 
580,194

Net Assets

Net Assets invested in capital assets: 
101,905
Unrestricted net assets: 
14,384

Statement of Changes in Net Assets

Balance, Beginning of Year: 
120,434
Excess of revenue over expenses: 
-4,145
Balance, End of Year: 
116,289

Statement of Operations

Revenue
Amortization of deferred contributions: 
6,419
Bad debt recovery: 
0
Contributions & Grants: 
12,600
Eastern elevator settlement: 
0
Interest income: 
604
Student memberships: 
142,606
Special events (net): 
3,881
Rental income: 
36,148
Workshop fees: 
142
Total Revenue: 
202,400
Expenses
Advertising and promotion: 
511
Amortization: 
29,326
Bank charges and interest: 
406
Bad debts: 
6,203
Hospitality and reception: 
165
Insurance: 
14,246
Long-term interest: 
30,259
Municipal taxes: 
7,013
Office and general: 
3,810
Professional fees: 
5,605
Repairs and maintenance: 
26,193
Taxes and licenses: 
339
Telephone: 
2,836
Utilities: 
13,696
Total Expenses: 
206,545
Excess of Revenue over Expenses: 
-4,145